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State tax planning commitment to the service of the great majorities

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Published: 23 May 2022 › Updated: 23 May 2022State tax planning commitment to the service of the great majorities

State tax planning commitment to the service of the great majorities

Over the years, the economic crisis and the legal changes that the states have undergone have led businessmen to make decisions to strengthen and make their tax policies more flexible. Currently, the tax burden of taxpayers is so high that they have had to evaluate more frequently the compliance with their tax obligations, as regards national, state and municipal taxes and other parafiscal requirements, including labor taxes.
Source ( business-standard )
Nowadays, tax planning has become a tool for the taxpayer who wishes to ensure a timely, voluntary and law-abiding compliance, based on the tax obligations generated by his activity.
For this reason, knowing the principles that govern it, the elements that integrate it and the benefits it provides is essential when managing the tax risks that threaten them.
In this sense, since income tax is for most governments an instrument for obtaining non-oil revenues, and where it progressively taxes the taxpayers' sources of wealth, which means a constant cash flow, planning is required.
Source ( economictimes )
Tax planning tries to foresee the consequences, from a tax point of view, of the actions and decisions that the taxpayers adopt during the fiscal year, anticipating the amount of taxes and contributions to be paid.

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